The Government wants more Malaysian companies and businessmen to look at Myanmar as their next foreign investment destination.

International Trade and Industry Minister Datuk Seri Mustapa Mohamed
said the changes in policy by the junta government there sent a strong
signal that the country was serious in attracting foreign investors.
He said there were several economic sectors and activities in which local companies and businessmen could invest.

Mustapa
said these included infrastructures such as building roads, highway and
airports, manufacturing, oil palm, property development projects and
oil and gas.

“Presently there are 200 Malaysian companies and
businessmen there and we want to see more of them in Myanmar,'' he said
at a press conference yesterday.

Mustapa said he was in Myanmar
recently leading a business delegation and found that the country
offered good business opportunities for Malaysian investors.

He
said this after attending a close door meeting with investors in Johor
and briefing by the Iskandar Regional Development Authority chief executive officer Ismail Ibrahim on the progress of Iskandar Malaysia.
Mustapa
said Malaysia was not worried foreign direct investment (FDI) inflows
to the country would be affected with Myanmar's open door policy.

“Both
countries have different targets in attracting FDIs with Malaysia going
for high-technology investments while Myanmar is more on
labour-intensive industries,'' he said.

Mustapa said the
industrial working committee between Malaysia and Singapore would hold
its first meeting tomorrow here to discuss industrial-related matters.

He
said the setting up of the committee was mooted by the Singapore
business community including the Singapore Business Federation for
Manufacturers looking to relocate or expand their operations in Iskandar
Malaysia.